|Bid||0.00 x 800|
|Ask||0.00 x 4000|
|Day's range||4.99 - 5.13|
|52-week range||4.78 - 9.60|
|Beta (3Y Monthly)||0.89|
|PE ratio (TTM)||8.74|
|Forward dividend & yield||0.24 (4.67%)|
|1y target est||17.25|
Gloomy prospects are dragging down carrier stocks, making the sector the worst-performing in the Stoxx Europe 600 Index over the past two years. Carriers including Vodafone Group Plc, Telecom Italia SpA and Telefonica SA have struggled to turn demand for mobile broadband and faster, fiber-fueled, internet services into revenue growth because of intense competition in many local markets, which often have three or even four rivaling phone companies.
Europe’s phone companies are in a rut and investors are taking note. Gloomy prospects are dragging down carrier stocks, making the sector the worst-performing in the Stoxx Europe 600 Index over the past two years. Carriers including Vodafone Group Plc, Telecom Italia SpA and Telefonica SA have struggled to turn demand for mobile broadband and faster, fiber-fueled, internet services into revenue growth because of intense competition in many local markets, which often have three or even four rivaling phone companies.
Telecom Italia SpA’s board discussed a proposal by Chief Executive Officer Amos Genish to make an offer for Nextel Telecomunicacoes Ltda, a move that would help the carrier gain market share and spectrum in Brazil, according to people familiar with the matter. The talks followed a report by Bloomberg News last week that Telecom Italia was considering a bid for Brazil’s fifth-largest wireless carrier. Telecom Italia acknowledged that its board met to discuss various scenarios on Monday, without being specific.
Telecom Italia SpA had problems when it was being dominated by its biggest investor, Vincent Bollore’s Vivendi SA. But the arrival on the shareholder register of activist fund Elliott Management Corp., and its wresting of boardroom control from the Breton billionaire, has hardly helped matters. As such, Paul Singer’s New York hedge fund would probably do well to listen to Telecom Italia’s CEO Amos Genish, who Bloomberg News says is eyeing a Brazilian takeover and asset sales. Amid the sniping between Vivendi and Elliott, his two largest shareholders, Genish is still the operator’s best shot at stability.
Telecom Italia SpA was the highest bidder in an Italian auction of airwaves for fifth-generation mobile services that raised at least $2.9 billion, as the industry piles into a technology whose commercial potential is yet to be tested. The former monopoly offered 951 million euros ($1.1 billion) for four blocks of spectrum, followed by Iliad SA with 749 million euros and Vodafone Group Plc’s local unit with 716 million euros, Italy’s ministry for economic development said on its website Tuesday. As a newcomer, France’s Iliad had a special right to bid for a reserved package of 700-megahertz frequencies, the most valuable.
Telecom Italia SpA (BIT:TIT), a large-cap worth €10.70b, comes to mind for investors seeking a strong and reliable stock investment. Risk-averse investors who are attracted to diversified streams of revenueRead More...
The veteran telecoms executive has had a turbulent year at the helm of the former Italian national carrier. Singer’s activist fund, Elliott Management Corp., acquired a 9 percent stake in Telecom Italia and set about agitating for change. In April, it managed to oust most of the board appointees of Vivendi SA, the French media conglomerate that owns 24 percent of the shares, and replace them with a lineup of Elliott-backed directors.
The open conflict between two warring investors in Telecom Italia SpA is finally catching up with Chief Executive Officer Amos Genish. Genish’s job is now at risk because company directors representing Elliott Management Corp. are impatient with his lack of progress in turning around the former phone monopoly, according to people familiar with the matter. While the U.S. activist investor wants Telecom Italia to make changes like selling a stake in its towers company and a full spinoff of the phone network, Genish has been resistant, instead focusing on a strategy of organic growth, said the people, who asked not to be identified as the deliberations are private.
It’s a healthy reminder to Vivendi SA and activist fund Elliott Management Corp. to temper their more combative instincts and let the respected telecoms executive get on with the job. This applies just as much to Paul Singer’s hedge fund as it does to Vincent Bollore’s French media conglomerate. Just 50 days after launching its 5.99 euros per month cellphone contracts in Italy, Niel’s company said last week it had a million subscribers there.
Telecom Italia SpA is pressing ahead with a sale of its Sparkle undersea-cable unit and is looking at selling other parts of the business to boost its stock price, according to people familiar with the matter. The board has approved a strategic review of Sparkle, said the people, who asked not to be identified because the deliberations are private. Chief Executive Officer Amos Genish said in March he was pitching the unit to potential buyers in early-stage talks.
Does the share price for Telecom Italia SpA (BIT:TIT) reflect it’s really worth? Today, I will calculate the stock’s intrinsic value by taking the expected future cash flows and discountingRead More...
Telecom Italia Chief Executive Officer Amos Genish is expected to face tough questions at the phone carrier’s June 25 meeting after he criticized unidentified directors for feeding "untrue and unreliable speculation," according to people familiar with the matter. The CEO, who was installed by the company’s biggest investor Vivendi SA in 2017, will be asked to explain his unusually frank comments made to reporters who were summoned to a briefing on Wednesday, said the people, who asked not to be named discussing a management issue. Genish’s position could be at risk if he doesn’t address the concerns of some board members, they said.
Telecom Italia SpA posted first-quarter sales that beat analysts’ estimates driven by growth in domestic mobile and broadband subscriber numbers. In the carrier’s first results since U.S. activist investor Elliott Management Corp. took control of its board this month, Telecom Italia said revenue rose 2.7 percent in organic terms to 4.71 billion euros ($5.5 billion). Elliott defeated Vivendi SA after shareholders supported its call to improve corporate governance and push for asset sales and a reintroduced dividend.
MILAN (AP) — Telecom Italia has announced a content-sharing agreement with Mediaset, Italy's largest private broadcaster, as the former telecom monopoly pushes ahead with its plan to improve digital content after a boardroom shakeup.
Telecom Italia's new board dominated by delegates chosen by a U.S. hedge fund has confirmed Amos Genish as CEO and named one of the new board members, Fulvio Conti, as chairman. The moves come after Elliott engineered a shareholder coup last week, wresting the board from controlling shareholder, France's Vivendi. Conti, a longtime Italian manager, said the board confirmed support for Genish's 2018-2020 business plan.
Bloomberg's Dan Liefgreen discusses Elliott Management's push to take control of Telecom Italia's board on "Bloomberg Markets: European Close." (Source: Bloomberg)